June 1 (SeeNews) - Croatian real estate company Terra Mediterranea [ZSE:TRMD] said on Friday it signed an agreement to integrate its fully-owned subsidiary Loborika.
Terra Mediterranea is the owner of the entire capital of Loborika, which amounts to 20,000 kuna ($3,150/2,700 euro), and the transaction does not require a shareholder approval, the Croatian company said in a filing with the Zagreb Stock Exchange.
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The agreement for the integration of Loborika into Terra Mediterranea was signed on May 28, the real estate company added.
The main business activity of Terra Mediterranea is the development of luxury projects for social purposes, such as complexes for elderly people.
(1 euro = 7.37576 kuna)